DRPA guarantees Battleship New Jersey loan for the next three years

For at least the next three years, the Delaware River Port Authority will guarantee the $900,000 TD Bank loan for the Battle Ship New Jersey.

The DRPA took on the responsibility in 2003 when Home Port Alliance took the loan.
There’ve been a few three-year extensions since then, and the Gloucester County Times reports the DRPA worried TD will recall the loan if the authority doesn’t guarantee it.

Hope Port Alliance, which owns the ship, has been paying interest, but did not begin repaying the principle until 2011.